(Finance) – Yet another difficult day for the European automotive sectorafter declines in recent days in the wake of several profit warnings and disappointing sales data in some key geographic areas. Today the main headlines are moved by a reports Of Barclays on the sector, which improved the recommendation on BMW to Equal Weight (TP to 80 euros from 90), lowered up Mercedes to Equal Weight (TP at 65 euros from 76.5), lowered up Porsche to Underweight (TP at 35 euros from 42.5), lowered Renault at Equal Weight (TP at 47.5 euros from 60).
Barclays cut rating on Stellantis to Equal Weight (TP to 12.5 euros from 23), which also suffers from Bernstein’s cut in its target price to 11 euros per share from 18 euros (Market Perform rating confirmed).
Among other reviews, Jefferies lowered the recommendation to Aston Martin to Hold from Buy, with TP at 120 pence (from 250).
TO Milan the worst stock on the FTSE MIB is Stellantiswhich records a decline of 3.22% and stands at 12.01 euros. Operationally, a downward extension of the curve is expected with a support area seen at 11.87 and subsequently at 11.73. Resistance at 12.23.
TO Frankfurtthe worst stock on the DAX is Porsche Automobile Holding with prices aligned at 39.7 euros, for one drop of 2.19%. The greatest expectations see an extension of the decline towards the support area estimated at 39.45 and subsequently at 39.21. Resistance at 40.09.
Bad to Paris Also Renaultwith prices aligned at 36 euros, for one drop of 1.80%. The greatest expectations see an extension of the decline towards the support area estimated at 35.77 and subsequently at 35.53. Resistance at 36.45.